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Six Years, Zero Stock Returns, The Airbnb IPO.

Jul 11, 2026

The creator discusses Airbnb's poor stock performance since its IPO, attributing it to an excessively high IPO valuation (24x sales) and subsequent multiple compression, despite the company's strong revenue growth. The creator notes that most investors did not get shares at the initial IPO price.

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ABNBNeutralLow ConvictionSignal-backedPrimary

Airbnb's stock has seen zero returns since its IPO due to an extremely high initial valuation of 24 times sales, which has since compressed, despite the company's strong revenue growth.

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